Launched in 2014, StoryBites is a weekly feature from YS, featuring notable quotable quotes in our articles of this past week. This special series of quotes focuses on the increasing impact of digital media in India and around the world (see the previous post here). Share these 30 gems and insights with your colleagues and networks, and check back to the original articles for more insights.
Digitalisation has paved the way for the emergence of technologically advanced solutions that help in the risk stratification of patients. – Hiren Dhuvad, Indigital Technologies
The time for AI in healthcare is here. Radiology in particular, with an already existing digital image workflow, will see faster adoption of AI. – Ramesh Byrapaneni, Endiya Partners
Efficient AI and data science algorithms not only provide a better picture of a candidate to enable deeper assessment but also help in reducing the turnaround time. – Shubhanshu Srivastava, CrewScale
With a 40 percent growth in ecommerce this year alone, it is imperative that brands apply automation and machine learning to manage their business online. – Guru Hariharan, CommerceIQ
There are now 67 million retail businesses globally, with ecommerce now at nearly 14 percent of all retail. On an average, businesses spend anywhere from $10,000 to $100,000 yearly to run their online store. – Kausambi Manjita, Mason
Networking coupled with commerce features offers the potential for a massive scale for the [agri] ecosystem. – Ankur Capital
The digital lending space has evolved and split up into various subcategories, including personal loans, P2P lending, SME loans, point-of-sale financing, and supply chain financing, among others. – Kanika Agarrwal, Upside AI
Insurance will be the next frontier in fintech, and technology will play a critical role in increasing its penetration to the masses. Every step of the insurance value chain needs to be re-engineered using technology and analytics. – Ashish Dave, Mirae Asset Venture Investments
Only 10 percent of the formal credit (mostly secured) goes to 45 percent households of India earning approximately $200-$400 a month. – Saurav Gandhi, Bueno Finance
The digital payments landscape in India is at the cusp of accelerated transformation and adoption. – Arvind Ronta, Visa
Indians tend to leave their monies idle in a bank account or stick to fixed deposits that don’t even beat inflation. – Saumya Shah, Tarrakki
The Indian lending ecosystem has solved only less than 5 percent of the overall need that exists. – Ankur Bhageria, CashFlo
Our country’s logistics cost is 14 percent; in other countries of the world, the cost is around 8 percent. We are 6 percent more inefficient as compared to the world. – Amit Saraogi, Anmol Feeds
India is the world’s second-largest agriculture market and we produce more than 110 million tons of fruits every year. However, we see broken supply chains, massive wastage gluts, and shortages both geographically and over time. – Shobhit Gupta, Superplum
The year 2021 will go down in history as the year India’s tech IPO story started. – Anup Jain, Orios Venture Partners
Overall, India’s Internet GMV grew to $65 billion in 2020 and is now creating a large impact on the overall economy — with almost 4.6 percent of total private consumption coming from India Internet. – Anil Kumar, RedSeer
The Internet has transformed the lives of consumers living in large metro cities. However, for low to mid-income users in small towns, the use of internet is limited to content and social. – Angad Kikla, CityMall
What is better than learning a skill like coding in your own language? – Siddharth H Somaiya, Organic Riot
There is a huge scope for increasing the adoption of wearable devices in India. – Rakesh Krishnan, Flipkart
The organised home laundry market is at a nascent stage, ripe for profitable disruption through technology. – Ambareesh Murty, Pepperfry
In the WFH mode, accelerators also need to invest in providing virtual support and digital mentoring to convert their high-touch service into a 24X7 product. – Ajay Batra, Wadhwani Foundation
Technology startups are going beyond providing digital business solutions to MSMEs. These firms are now upskilling MSME owners with reliable knowledge and training, thereby hastening the adoption of digital business solutions. – Harsh Pokharna, OkCredit
As many as 95 percent of techies stop learning at a point. But all the great stories emerge from the remaining 5 percent who never stopped learning. – Madhusudhan Anand, Ambee
Managed services have the collective intelligence of all practices that can secure (operations) to a desirable level. – Sourav Sachin
Although blockchain data is public, retrieving it in a reliable fashion is extremely difficult. – Ganesh Swami, Covalent
Technology is coming to the aid of creative minds and entrepreneurs who aim to start aesthetically-driven ventures or creative startups with a technologically sound foundation. – Asheesh Gupta, JK Lakshmipat University
COVID-19 has shown us how important digital and social media have been for artistes to reach out to their audience and maintain their fan following throughout the pandemic. – Sharzede Datu Salleh Askor, Sarawak Tourism Board
One should not indiscriminately create content for all platforms. It’s important to bear in mind what people do on different platforms and create a specific strategy for each accordingly. – Hector Anklesaria, Tata Capital
Meme marketing is all about humorous content. – Neha Puri, Vavo Digital
YS has also published the pocketbook ‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups’ as a creative and motivational guide for innovators (downloadable as apps here: Apple, Android).
